SBC Medical Group Holdings (SBC) said Friday that its SBC Medical Group unit is selling all shares of its two subsidiaries, SBC Kijimadaira Resort and Skynet Academy.
SBC Kijimadaira is a ski resort business and Skynet Academy focuses on flight training operations, according to the company.
SBC Medical Group said the shares will be sold to a company owned by its CEO Yoshiyuki Aikawa and the transaction is approved both by the board and audit committee.
The divestment was decided to focus management resources on the company's core medical services business and the transactions will have minimal impact on the consolidated financial statements, SBC Medical Group added.
The company expects to close the deal by the end of December.
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